MRC Global Correlations

MRC Stock

USD 13.63 0.06 0.44%

The current 90-days correlation between MRC Global and Now Inc is -0.21 (i.e., Very good diversification). The correlation of MRC Global is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

MRC Global Correlation With Market

Weak diversification

The correlation between MRC Global and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MRC Global and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with MRC Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in MRC Global. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

For information on how to trade MRC Stock refer to our How to Trade MRC Stock guide.

Moving together with MRC Stock

0.77	TS	Tenaris SA ADR	Pair Corr
0.74	VTOL	Bristow Group	Pair Corr
0.79	EFXT	Enerflex	Pair Corr
0.7	WFRD	Weatherford International Earnings Call This Week	Pair Corr
0.77	DTI	Drilling Tools Inter	Pair Corr
0.67	FET	Forum Energy Technologies	Pair Corr
0.89	FTI	TechnipFMC PLC Earnings Call Next Week	Pair Corr
0.81	FTK	Flotek Industries	Pair Corr
0.82	NGS	Natural Gas Services	Pair Corr
0.66	NOA	North American Const Earnings Call This Week	Pair Corr
0.64	NOV	NOV Inc Earnings Call This Week	Pair Corr
0.85	OII	Oceaneering International Earnings Call This Week	Pair Corr
0.85	OIS	Oil States International	Pair Corr
0.8	SEI	Solaris Energy Infra Symbol Change	Pair Corr
0.82	TDW	Tidewater	Pair Corr
0.8	VAL	Valaris	Pair Corr
0.87	WHD	Cactus Inc	Pair Corr
0.62	NCSM	NCS Multistage Holdings	Pair Corr
0.68	NEXT	Nextdecade Corp	Pair Corr

Related Correlations Analysis

	DNOW	NPKI	EFXT	VTOL	FET	WTTR	PARR	PUMP
DNOW		-0.48	-0.6	-0.49	-0.45	-0.38	-0.67	-0.51	DNOW
NPKI	-0.48		0.79	0.67	0.6	0.43	0.77	0.75	NPKI
EFXT	-0.6	0.79		0.9	0.9	0.73	0.91	0.91	EFXT
VTOL	-0.49	0.67	0.9		0.95	0.89	0.89	0.89	VTOL
FET	-0.45	0.6	0.9	0.95		0.86	0.86	0.89	FET
WTTR	-0.38	0.43	0.73	0.89	0.86		0.71	0.82	WTTR
PARR	-0.67	0.77	0.91	0.89	0.86	0.71		0.82	PARR
PUMP	-0.51	0.75	0.91	0.89	0.89	0.82	0.82		PUMP
	DNOW	NPKI	EFXT	VTOL	FET	WTTR	PARR	PUMP

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

FET	+ 0.95	VTOL
PARR	+ 0.91	EFXT
PUMP	+ 0.91	EFXT
VTOL	+ 0.9	EFXT
FET	+ 0.9	EFXT
WTTR	+ 0.89	VTOL

High negative correlations

PARR	- 0.67	DNOW
EFXT	- 0.6	DNOW
PUMP	- 0.51	DNOW
VTOL	- 0.49	DNOW
NPKI	- 0.48	DNOW
FET	- 0.45	DNOW

Risk-Adjusted Indicators

There is a big difference between MRC Stock performing well and MRC Global Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze MRC Global's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
DNOW	1.93	0.10	(0.04)	(0.01)	2.73	(1.95)	3.51	(4.10)	18.98
NPKI	2.05	0.57	0.31	0.59	1.51	(2.67)	4.48	(3.06)	28.96
EFXT	1.57	0.08	0.03	0.20	2.30	(1.62)	3.47	(2.53)	9.22
VTOL	1.68	0.24	0.08	0.45	2.09	(1.80)	3.41	(3.07)	9.71
FET	2.69	0.30	0.08	0.47	3.39	(2.67)	5.41	(4.76)	13.70
WTTR	2.11	0.09	0.02	0.24	3.03	(2.31)	4.39	(3.90)	15.80
PARR	2.67	1.59	0.49	(2.60)	1.79	(3.35)	7.59	(3.66)	16.21
PUMP	3.02	(0.09)	0.00	0.06	4.22	(3.24)	7.62	(8.29)	17.33

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC